Love him or hate him, 85-year old Richard Russell is the doyen of investment letter writers – having been at it for more than half a century – and his views as expressed in his daily Dow Theory Letters always make for stimulating reading. This post summarizes the R man’s “big picture” view of the U.S. stock market. […]

Jim Hamilton used the Federal Reserve Flow of Funds data to pose a question: who will buy “the additional $8 trillion in net new debt that would be issued over the next decade under the CBO’s alternative fiscal scenario?” In this guest post, Rebecca Wilder argues that the domestic private sector will accumulate the paper. […]